SAN DIEGO, Sept. 11, 2024 (GLOBE NEWSWIRE) — Robbins LLP reminds investors that a shareholder filed a class action on behalf of all persons and entities that purchased or otherwise acquired Vicor Corporation (NASDAQ: VICR) common stock between April 26, 2023 and February 22, 2024. Vicor is a global power technology company that designs, develops, manufactures, and markets modular power components and power systems for converting electrical power in the United States, Europe, and the Asia Pacific.
For more information, submit a form, email attorney Aaron Dumas, Jr., or give us a call at (800) 350-6003.
The Allegations: Robbins LLP is Investigating Allegations that Vicor Corporation (VICR) Misled Investors Regarding its AI Platform
According to the complaint, during the class period, defendants misled investors regarding the Company’s forthcoming AI platform and led investors to believe that Vicor had secured a significant deal with Nvidia for its H100 product, which caused shareholders to purchase Vicor stock at artificially inflated prices.
The complaint alleges that on October 24, 2023, Vicor released its third quarter 2023 earnings and guidance for the remainder of the year. The Company assured it was in a good position with the progress made with its intellectual property and potential for diversification and expansion into the AI power systems market, but was reluctant to discuss its AI platforms, which analysts took as a sign of “shrink[ing]” opportunity in the space. In response, Vicor’s stock price fell by $14.14 per share.
Then, on February 22, 2024, Vicor announced its end of year earnings, which missed analyst expectations and signaled a sharp reversal in new contracts and sales. As a result, the price of Vicor stock declined from $46.84 per share on February 22, 2024, to $35.67 per share on February 23, 2024.
What Now: You may be eligible to participate in the class action against Vicor Corporation. Shareholders who want to serve as lead plaintiff for the class must file their motions with the court by September 23, 2024. A lead plaintiff is a representative party who acts on behalf of other class members in directing the litigation. You do not have to participate in the case to be eligible for a recovery. If you choose to take no action, you can remain an absent class member. For more information, click here.
All representation is on a contingency fee basis. Shareholders pay no fees or expenses.
About Robbins LLP: Some law firms issuing releases about this matter do not actually litigate securities class actions; Robbins LLP does. A recognized leader in shareholder rights litigation, the attorneys and staff of Robbins LLP have been dedicated to helping shareholders recover losses, improve corporate governance structures, and hold company executives accountable for their wrongdoing since 2002. Since our inception, we have obtained over $1 billion for shareholders.
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